Abokado, the healthy eating grab and go brand, has secured £3m in new funding from alternative lender ThinCats.

Mark Lilley, Abokado’s founder and chief executive, said the new finance would fuel the concept’s next phase of growth.

He said the c23 strong London chain Abokado had achieved record profits for 2017, with EBITDA up by almost 50% year on year.

Late last year Lilley told MCA that the decision to exit five sites in 2017 had put the group in a strong position coming into 2018 amid tough trading conditions.

In February he said the Kings Park Capital-backed group was likely to hold off on acquisitions until the second half of 2018 when he anticipated rents will soften.